Multilateral Development Bank of the Year: CAF

Nov 1, 2013

With a focus on infrastructure, the multilateral lender has expanded its loan book and is prepared for greater demand as markets turn sour

It has been a busy year for CAF. The multilateral —
which last year rebranded as the Development Bank of Latin
America, to reflect its pan-regional ownership and scope
— has worked hard to deepen its global links; it has
sold bonds in a range of international jurisdictions; it has
seen a surge in its lending; and it has had its credit ratings
upgraded by three agencies.

All this happened during a period in which Latin markets
were, for the most part, booming. Enrique García,
CAF’s president, tells LatinFinance that the
importance of multilateral development banks stretches beyond
filling the gaps when commercial lenders retreat during a
downturn.

"Institutions like CAF and the multilateral banks are
crucial to the member countries when the situation is difficult
in...